Answers of GST

NOTE: PLEASE EDIT AS YOU RIGHT THE ANSWERS FOR
THE FOLLOWING QUESTIONS.

1.Draw a chart showing tax structure in India.
1. Draw a chart and write a note on Pre-GST Indirect tax structure in India.
In pre-GST scenario, an article 265 prohibited the central government to make laws with
respect to goods which come under the ambit of state government and vice versa.
In India taxes are levied by the central government and the state government and some minor
taxes are also levied by the local authority such as municipality tax etc.
• The article 246 gives power to central and state government to make laws relating to matter
covered under list I:Union list, list II: state list and list III: Concurrent list.
2. Write any five limitations of Pre-GST Indirect taxes.
3. What was the significance of Introduction of VAT in Indirect Taxes priorto implementation of
GST . Write a short note.
4. Need for GST in India.
5. What are the important stages in implementation of GST.
6. What were the taxes subsumed in GST.

7. Visit CBIC Website and make a note of important contents.
8. What is the major difference in incidence of tax during pre and post GST implementation
with respect to inter-state transfer. Explain with example.
9. What are the exclusive products not included in the purview of GST. Why?
10. When GST council was notified and what is its composition.
11. What are different types of taxes levied under GST.
13. What are the laws supporting the levy of GST. Explain with examples or rules. [PLEASE FIND BY
YOUR SELF ]
14. What is RNR?

15.What are the categories of Goods and Services for levying GST.
16. Briefly explain the important components of Supply.
17. What activities are included in supply.[PLEASE FIND BY YOURSELF ]
18. Brief registration process of GST.[NOTES]
19. What is Composite supply and Mixed Supply. What is the rate of tax applied?
COMPOSITE: Under GST, a composite supply would mean a supply made by a taxable person to a
recipient consisting of two or more taxable supplies of goods or services or both, or any combination
thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary
course of business, one of which is a principal supply. Illustration: Where goods are packed and
transported with insurance, the supply of goods, packing materials, transport and insurance is a
composite supply and supply of goods is a principal supply .
MIXED: Under GST, a mixed supply means two or more individual supplies of goods or services, or
any combination thereof, made in conjunction with each other by a taxable person for a single price
where such supply does not constitute a composite supply. Illustration: A supply of a package
consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated drinks and fruit juices when
supplied for a single, price is a mixed supply. Each of these items can be supplied separately and is
not dependent on any other. It shall not be a mixed supply if these items are supplied separately.
20. Write a short note on the process of GST. [NOTES]
21. What are the types a dealer can opt at registration?[NOTES]
22.What is the threshold limit for composite dealers & Registered dealers.[NOTES]
23. List out five examples of B2C transactions.
i. Apple :-Apple designs and produces electronics hardware, software, and online services. These
range from smartphones (iPhones) to laptops (Macbooks) to computers (iMacs). They are a great
example of a B2C company since they design, develop, manufacture and sell consumer electronics to
consumers.
ii. McDonald’s :- McDonald’s is the American fast-food chain that has a global presence and known
for its hamburgers. McDonald’s is a business serving fast-food to consumers and individuals and can
be identified as one of the biggest B2C companies in the world.
iii. Amazon :- Amazon is the biggest ecommerce site in the world and is also considered as one of the
four biggest tech companies in the world. Amazon’s own products, Amazon Prime, and Amazon
Originals (Amazon funded media) are all great examples of the B2C nature of the business.
iv.TOMS :-TOMS is a for-profit organization that designs and manufactures shoes, eyewear, and
apparel. TOMS is a business creating and selling shoes and apparel to consumers via their physical,
online storefronts and through retail outlets.
v. An example of a B2C transaction would be someone buying a pair of shoes online or booking a pet
hotel for a dog. It is likely the model that most people are familiar with.
24. Draw a specimen of Invoice, Tax Invoice and Bill of Supply.

25. What is Supplementary invoice.
A supplementary tax invoice is an invoice that a taxable person issues if any deficiency is found in a
tax invoice already issued by the said taxable person. A supplementary invoice is also known as a
debit note. A supplementary invoice is used to rectify the deficiency related to the original tax
invoice under GST. There can be some situations where the taxable value of the goods or services
has been undermined in the original tax invoice, resulting in a lesser tax being charged or other such
deficiencies. Hence, an upward revision may be required. In such cases, a supplementary invoice or
debit note needs to be issued. Apart from taking care of such revision, the particulars mentioned
mandatorily in the invoice are mentioned in the “Format of Revised Invoice” section.
26. What is the eligibility for availing Input Tax Credit.

27. With the help of diagram show Input Credit Mechanism.
28. List out masters to be created to effect GST in tally.
1. CGST OUTPUT/INPUT
2. SGST OUTPUT/INPUT
3. PARTY LEDGER
4. SALES / PURCHASE LEDGER.
5. CREATION OF STOCK ITEMS
6. IGST INPUT/OUTPUT
29.Draw a table giving details of GSTR-1,GSTR-2,GSTR-3.[NOTES]
30. Write the steps for filing GSTR 1, GSTR -2,GSTR-3.[NOTES]

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NOTE: PLEASE EDIT AS YOU RIGHT THE ANSWERS FOR

THE FOLLOWING QUESTIONS.

2. Write any five limitations of Pre-GST Indirect taxes.

6. What were the taxes subsumed in GST.

14. What is RNR?

18. Brief registration process of GST.[NOTES]

20. Write a short note on the process of GST. [NOTES]

21. What are the types a dealer can opt at registration?[NOTES]

24. Draw a specimen of Invoice, Tax Invoice and Bill of Supply.

26. What is the eligibility for availing Input Tax Credit.

4. SALES / PURCHASE LEDGER.

5. CREATION OF STOCK ITEMS

29.Draw a table giving details of GSTR-1,GSTR-2,GSTR-3.[NOTES]

30. Write the steps for filing GSTR 1, GSTR -2,GSTR-3.[NOTES]

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